Capital One Nets New OpenPages Functionality – Without a Software Update | Financial Services
CASE STUDIES
3 min read
3 min read
Capital One is a global Fortune 500 financial corporation founded in Richmond, VA in 1994. It specializes in auto loans, banking, and credit cards, and boasted revenues of over $44 billion in 2022 – a nearly 20 percent leap from the year prior.
Capital One places high value in technology’s ability to transform the consumer banking experience and has been recognized by brands like VentureBeat for its focus on innovation. Their Capital One Lab project “explores the intersection of emerging technology and finance” by enabling bright minds to leave their mark on the business and banking industry as a whole.
Financial Services
Large
United States
IBM® OpenPages GRC Platform helps large enterprises orchestrate extremely intricate risk- management and regulatory compliance strategies. The middleware provides a guided window into opaque processes and compliance obligations that can be scattered across numerous divisions and legal frameworks, which can, in turn, empower cross-functional teams to rein in highly abstract processes on the fly.
As a result, features that allow users to view and filter data or processes in new ways are common additions in version updates. These are useful, but some companies feel their presence alone isn’t enough to justify an expensive software upgrade or migration. If other aspects of the new version change don’t move the needle, IT and financial stakeholders often decide it’s better to stand pat.
Such was the story for Virgina-based finance and banking business Capital One. Thanks to Origina’s partnership, the brand had already been running a version of OpenPages that the OEM had moved to End of Support (EOS) for some time. Now, though, they had identified a need for a capability that fell outside their current version, namely a field on the filter list screen that would display the status of certain data objects.
Achieving this level of added enhancement is straightforward in later versions of OpenPages. But moving to that version would mean taking on renewals and upgrades in which Capital One had no interest – a reason they opted to work with Origina in the first place.
Instead, they raised the issue with our team, and our experts promptly set to work.
Instead of a costly Software Subscription and Support (S&S) reactivation, more visibility into the data at hand was needed to help stakeholders across Capital One make better use of the OpenPages GRC Platform version the company currently relied on.
Origina’s approach started with a review of the customer’s needs and desired outcomes. This led to the discovery of two possible paths forward, both of which could have added the desired functionality without further subscription costs or vendor lock-in:
Either one of these solutions to the ticket would provide Capital One with the required functionality without pushing the need for an extended service contract or version update. The banking and finance leader easily extended the life of its current OpenPages implementation, with Origina continuing to provide concierge, expert service on the software despite its OEM EOS status.
By calling on Origina to add functionality to their EOS OpenPages GRC Platform implementation, Capital One achieved:
Increased ROI on high-value enterprise middleware version they currently used and trusted
Two different approaches to implement new functionality based on current needs and long-term objectives
Continued support and maintenance for software the OEM had designated to EOS status
You can keep using the software you have. Reach out for a consultation.
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